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Jul 3, 2012
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the city of baltimore and the firefighters and police union of new britain, connecticut, have already filed a lawsuit against barclays and other internationalbacks claiming that a low libor cost them a return on their investments. bob diamond, the ex-c.e.o. of barclays is due to face some tough questions by british politicians tomorrow and his line of defense is going to be that at the time back in 2007 and 2008 a lot of banks were fixing interest rates and he's going to say that the deputy head of the british central bank actually called him up and gave him a tacit green light to go ahead, an exclusive allegation, scott. >> pelley: a lot more to come. liz, thanks very much. phony cancer drugs from overseas end up in u.s. clinics. a ruling in the case of a jetblue pilot charged with disrupting a flight. and just ahead of the fourth. the sun sets off some fireworks. when "cbs evening news" continues. [ male announcer ] it's simple physics... a body at rest tends to stay at rest... while a body in motion tends to stay in motion. staying active can actually ease arthritis symptoms. but i
the city of baltimore and the firefighters and police union of new britain, connecticut, have already filed a lawsuit against barclays and other internationalbacks claiming that a low libor cost them a return on their investments. bob diamond, the ex-c.e.o. of barclays is due to face some tough questions by british politicians tomorrow and his line of defense is going to be that at the time back in 2007 and 2008 a lot of banks were fixing interest rates and he's going to say that the deputy...
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Jul 4, 2012
07/12
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the city of baltimore and the firefighters and police union of new britain, connecticut, have already filed a lawsuit against barclays and other international banks claiming that a low libor cost them a return on their investments. elizabeth palmer, cbs news, london. >>> a jetblue airline pilot who disrupted his own flight leaving the cockpit and screaming about religion and terrorists has been found not guilty due to mental illness. clayton os ben was charged with interfering with a flight crew after the incident in march. a federal judge in amarillo, texas where the plane made an emergency landing ordered him to a mental health facility. >>> the competitive eating take part in one of the biggest sporting events of the year. the nathan's hot dog eating contest in coney island. our buddy john elliott coming up on the left weatherman from our weather station in new york city up against former nathan's champ. toker owe kobayashi. kobayashi will not be competing in this year's event. cheater, cheater you. this is the "cbs morning news." it's time to live wider awake. only the beautyrest
the city of baltimore and the firefighters and police union of new britain, connecticut, have already filed a lawsuit against barclays and other international banks claiming that a low libor cost them a return on their investments. elizabeth palmer, cbs news, london. >>> a jetblue airline pilot who disrupted his own flight leaving the cockpit and screaming about religion and terrorists has been found not guilty due to mental illness. clayton os ben was charged with interfering with a...
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Jul 12, 2012
07/12
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CURRENT
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he went on to say about 75% of major cities have contracts linked to this libor: baltimore's city solicitor said this. the injure we suffered during the time we suffered it hurt more because we were challenged budgets tearily every dollar we lost due to illegal conduct was a dollar we couldn't pay to keep open recreation centers or to pay police officers. this effected at least 75% of us, at least through the city governments, etc. because they took money basically out of our pocket. now i'm going to bring in an expert here on this. it happens to be our very own eliot spitzer. governor spitzer great to have you here. >> it is always here to chat with you. >> cenk: all right, let me start by saying this. they've got a multi national bank saying this is the banking industry's tobacco moment. it's that big. do you agree with that? do you think that the scandal is that gigantic? >> eliot: i think the scandal is that big. i think of all the multiple scandals that have touched over the last 20 years, this runs the deepest. libor is at the interest of every interest rate that sets your home mortga
he went on to say about 75% of major cities have contracts linked to this libor: baltimore's city solicitor said this. the injure we suffered during the time we suffered it hurt more because we were challenged budgets tearily every dollar we lost due to illegal conduct was a dollar we couldn't pay to keep open recreation centers or to pay police officers. this effected at least 75% of us, at least through the city governments, etc. because they took money basically out of our pocket. now i'm...
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clique of lawsuits what do you think about the fact the ok the city of baltimore and maryland right they are actually going after and they're and they're suing do you think about something specific that we're going to see two cities in america doing it that is exactly what we're talking about why is baltimore suing because they had interest rate swaps valued off of live bore and jim rickards was saying that there's not a city or county in this country that doesn't have some kind of swap agreement like that and what the mayor of baltimore said is this is the fiduciary duty of her to do this of the city to do this and it is it is if you have some kind of a board of directors to answer to or whatever so that it is literally their fiduciary responsibility to sue in that kind of a situation so yes we could see this much more widespread so and that's i mean we've seen a lot of scandals lately right we'll get into more of that but some people are saying that this possibly could be the biggest scandal that we've seen since the financial meltdown perhaps the most expensive scandal that we've seen
clique of lawsuits what do you think about the fact the ok the city of baltimore and maryland right they are actually going after and they're and they're suing do you think about something specific that we're going to see two cities in america doing it that is exactly what we're talking about why is baltimore suing because they had interest rate swaps valued off of live bore and jim rickards was saying that there's not a city or county in this country that doesn't have some kind of swap...
WHUT (Howard University Television)
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Jul 15, 2012
07/12
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baltimore laid off employees and cut services in the midst of the financial crisis. its leaders now say the city's troubles were aggravated by bankers' manipulation of this key interest rate linked to hundreds of millions of dollars the city had borrowed." so there are real world -- >> there are absolutely real world consequences to this. there are counterparties through all these swap transactions which is what they were trying to manipulate, and those counterparties were being hurt by it, absolutely. it's shocking. it should be punished very severely. and i think there probably is going to be more information coming out about it so i think it's just starting, i don't think it's over. >> you say they should be punished, but the justice department the other day in this settlement with barclays let the bank off if it paid the fine. so that doesn't suggest severe punishment. does it? >> well, you know, i think another thing that troubles me about all the enforcement actions that are brought, and there haven't been enough of them, but they generally, just, they tag the
baltimore laid off employees and cut services in the midst of the financial crisis. its leaders now say the city's troubles were aggravated by bankers' manipulation of this key interest rate linked to hundreds of millions of dollars the city had borrowed." so there are real world -- >> there are absolutely real world consequences to this. there are counterparties through all these swap transactions which is what they were trying to manipulate, and those counterparties were being hurt...
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of baltimore but just for individuals on an individual basis how does it hurt people. so two things had to be clarified here number one sometimes they would lower the interest rates oftentimes but it is also alleged that oftentimes they would increase interest rates depending on how they're going to make money on a trade so that is just not accurate to say all they did was lower the interest rate second of all it's also not accurate to say that that helps everybody now if you've got savings and all of a sudden you're getting a lower interest rate on your savings that doesn't help you at all if you've got if you're a city and you are dependent on that interest rate and you lose tens of millions of dollars sometimes hundreds of millions of dollars because you're getting a lower interest rate that most certainly did not help you so you are playing with people's lives either way when you fix this rate it is a big problem you fix it lower or higher and of course they're doing it for their own benefit for their own profit and they don't give a damn what happens to people tha
of baltimore but just for individuals on an individual basis how does it hurt people. so two things had to be clarified here number one sometimes they would lower the interest rates oftentimes but it is also alleged that oftentimes they would increase interest rates depending on how they're going to make money on a trade so that is just not accurate to say all they did was lower the interest rate second of all it's also not accurate to say that that helps everybody now if you've got savings and...
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restoring power more slowly in baltimore city than elsewhere. the mayor said in the baltimore sun, quote, we might be annoyed and hot as heck. we can get over that. but if we lose a vulnerable citizen, we can't get over that. end quote. so why not restore power to, let's say, nursing homes first? >> well, it's always a challenge. we have our public safety priorities, and we always go after those first. those are 911s centers and water treatment plants and pumping stations. we spent the better part of the first day to two days doing those tasks. but when you get into aspects of life like nursing homes, beyond that type of public safety, you then start to get into a position of so which is more important? what are the priorities? and if you begin to do individual customers or individual segments of the population, then you really do elongate potentially the overall restoration. i think with respect to the mayor, we have been working very closely with her as well as the other local leaders in the counties and cities that we serve. and at the end of
restoring power more slowly in baltimore city than elsewhere. the mayor said in the baltimore sun, quote, we might be annoyed and hot as heck. we can get over that. but if we lose a vulnerable citizen, we can't get over that. end quote. so why not restore power to, let's say, nursing homes first? >> well, it's always a challenge. we have our public safety priorities, and we always go after those first. those are 911s centers and water treatment plants and pumping stations. we spent the...
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Jul 5, 2012
07/12
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baltimore city police say they amped shutdown a suspected drug house in baltimore. they found plenty of illegal narcotics, weapons, $11,000 in cash. a 25-rolled was arrested on drugs and weapons charges. let's check on the morning commute. here is kim dacey and traffic pulse 11. >> not looking too bad. a few smaller incidents to talk about. in cockeysville, we have the one in break causing problems on york road. one lane open in each direction there. you might want to avoid that area if you can. in harford county, the edgewood i. area, route 24 and edgewood road. a bit of a spectacle this morning. major roadways are looking ok. this is a live shot of the southwest corner of the beltway. things are moving fine on the inner and outer loop there. northbound and southbound should be moving fine. tony has a check of the forecast. >> we at thunderstorms last night. no worries about rain this morning 7 and 9 at the airport, 77 in randallstown. we are watching thunderstorms drop around the cleveland area. some of that may hit west of maryland. it will be another hot one. hi
baltimore city police say they amped shutdown a suspected drug house in baltimore. they found plenty of illegal narcotics, weapons, $11,000 in cash. a 25-rolled was arrested on drugs and weapons charges. let's check on the morning commute. here is kim dacey and traffic pulse 11. >> not looking too bad. a few smaller incidents to talk about. in cockeysville, we have the one in break causing problems on york road. one lane open in each direction there. you might want to avoid that area if...
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Jul 14, 2012
07/12
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host: baltimore, mike, democrat l line. caller: i grew pickup a midwestern city famous for high quality manufacturing and as a kid i remember the claims of everyone around me, you know, made in milwaukee, the best. now i go home and they say that is over. all the firms are gone. that pride in workmanship is gone. but what has changed is we are globalized. so, wisconsin is just one node in a global economy. so, we have to get back in a global economy to where we were. we have to actually do what germany does. capture the highest value added parts of the commodity chain in the global economy. i think we can do it. host: "new york times" a story page a-8 that the headline says u.s. charges men on the iran embargo that the justice department unsealed the indictment of two men for conspiracy to violate the embark against iran by trying to smuggle restricted equipment and materials suitable for goes centrifuge to enrich uranium in the country. they had been made in the united states. a 24-page indictment handed down accuse accuse
host: baltimore, mike, democrat l line. caller: i grew pickup a midwestern city famous for high quality manufacturing and as a kid i remember the claims of everyone around me, you know, made in milwaukee, the best. now i go home and they say that is over. all the firms are gone. that pride in workmanship is gone. but what has changed is we are globalized. so, wisconsin is just one node in a global economy. so, we have to get back in a global economy to where we were. we have to actually do what...
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anne arundel county, here in the city, 48,000. total of 166,408 bge customers without electricity. >> last night family and friends of a baltimore county teen who died after a fight with an off duty county police officer, take theirs frustrations to the state's attorney offices. christopher brown died from asphyxiation. the officer has been indited on manslaughter charges the family thinks more serious charges should be lodged. >>> in westminster police looking for a man who assault add young woman near mcdaniel college the man approached the woman asking for a cigarette before slamming her into a stone column at that point she managed to runaway the man sought is also being described late 20s early 30s with a buzz cut. >> stay with wjz 13, maryland's news station, complete here you go little man. [ humming ] [ babbling ] the cheerios bandit got you again? [ both laugh ] ♪ the one
anne arundel county, here in the city, 48,000. total of 166,408 bge customers without electricity. >> last night family and friends of a baltimore county teen who died after a fight with an off duty county police officer, take theirs frustrations to the state's attorney offices. christopher brown died from asphyxiation. the officer has been indited on manslaughter charges the family thinks more serious charges should be lodged. >>> in westminster police looking for a man who...